Conciliation is a private, informal process in which a neutral third person helps disputing parties to reach an agreement.

Related MCQs

• In Shakuntla Sawhney v. Kaushalaya Sawhney,[(1979) 3 SCR 232]the Supreme Court has observed that “Finest hour of justice is the hour of compromise when parties after burying the hatchet, re-unite by a reasonable and just compromise” Whether this principle has been reflected in the ADR procedures mentioned in the Arbitration and Conciliation Act 1996?
• ADR techniques include arbitration, conciliation, mediation and negotiation.
• Section 75 of the Arbitration and Conciliation Act 1996 specifically provides for the confidentiality of all matters relating to the proceedings.
• Which of the following is/are true about bill of exchange? A) A bill of exchange requires in its inception two parties. B) A bill of exchange or “draft” is a written order by the drawer to the drawee to pay money to the payee. C) Bills of exchange are used primarily in international trade, and are written orders by one person to his bank to pay the bearer a specific sum on a specific date. D) Definition of ‘Bill of Exchange’ is mentioned in Section 6 of the Negotiable Instrument Act.
• ---------- is the right of a person to retain the property of another person in his possession untill the debt from that owner of that property is repaid.
• A -------------- is a person who is entrusted with some property by the settler or the author of the trust for the benefit of another person called beneficiary.
• How many parties are mainly involved in Promissory Note?
• If the holder of a bill of exchange allows the drawee more than ___ hours, exclusive of public holidays, to consider whether he will accept the same, all previous parties not consenting to such allowance are thereby discharged from liability to such holder.
• Collecting a cheque payable to the firm to the private account of a partner without enquiry constitutes.......
• As part of a mortgage agreement, a financial institution places a lien on the property until the loan is paid in full.